Delta, PBGC Deal Over Pensions Sails Through Court

Law360 (December 21, 2006, 12:00 AM EST) -- A federal bankruptcy judge has approved Delta Air Lines Inc.’s recent agreement with the Pension Benefit Guaranty Corp. to ditch its pilots’ pension plans, an integral part of the beleaguered airline’s recently filed plan to emerge from Chapter 11 protection.

On Wednesday, U.S. Bankruptcy Judge Adlai Hardin helped Delta take a significant step towards submitting a viable plan of action to creditors by endorsing the agreement.

Earlier this month, Delta and the PBGC signed off on a deal to jettison the airline’s pension plans under an...
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